dan yergin joins us.s, the most optimistic modern treatment of capitalism that is out there. has the optimism evaporated? when you look at the commanding heights of america, have we given up the optimism? dan: certainly in the balance of confidence in markets has shifted. really since the financial crisis of 2008, reassertion of stronger government role across the economy. tom: lisa and jon want to jump in with some other questions. rmb a two party nation, are we fracturing our historic two-party nation? dan: it is hard to see us not having a two-party system but we probably have a four party system. jon: we need to talk about how we are going to build on provider capacity in this country. republicans are pro fossil fuel, hoping to change the story, but a lot of us have our doubts about that. you know better than most that these companies make multi-decade decisions and no one is willing to make that decision right now. dan: i think you'll see some bottlenecking of refineries, some expansion, some buildin

i'll take whatever name you throw it may bring we've got dan yergin here who finished his audience on the floor. good to have you, time is precious. let's get to the rub of the issues on the day. biden is talking about a windfall of war, flying the kite by the possibility of windfall taxes. you live through many administrations. do you think this windfall tax can take flight. >> i think it's a highly charged political environment, whether your democrat or republican you're concerned about high energy prices, what happens in the winter and the industry is cyclical and it's a time when profits are strong. i think what you don't want to do and what we do need is people holding together to address production issues and what happens on december 5. you need people cooperating. manus: new sanctions, in december 5 anywhere between 2 million to 3 million barrels with product and crude will come off the market from europe. translate that crisis into what happens on the market. december the fifth that oil comes off. >> the question is how does russia respond to it. as you see the product that co

you may be, by the way, if your book catches on, you may be the dan yergin of semiconductors, but it's very much in the very much in the tradition of those books that sort of tell a general population about some of the powerful economic forces underlying geo political events. i'm thinking of guns, germs and steel and that sort of thing. so many people will be watching us right now who don't necessarily have the same sort of intuitive feel for the importance of semiconductor chips that they might have for oil. because, of course, most of us put gasoline in our cars. so for those who have yet to read the book, make make the argument about why semiconductors in some ways are the, you know, oil of the 21st century, or at least critical to not just our economies, but to our national security. well, the first thing to say is that the typical person doesn't realize it, but we touch dozens that in many cases, hundreds of chips each day in your smartphone, there could well be a dozen different chips, your computer only functions, things, the chips inside of it. when you log on to the internet,